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North Carolina ranks third on the “Best States for Business” list from Forbes magazine in the second annual compilation announced Wednesday.

Only Virginia (first) and Utah (second) ranked higher. North Carolina also ranked third last year. Utah was ranked fourth last year.

Forbes editors obviously like the Tar Heel state. In April, Raleigh topped the best metro list for business and careers.

“Our second runner-up was North Carolina, whose capital, Raleigh, is our best metro area for business and careers,” Forbes said on its Web site. “North Carolina has the second-lowest labor costs in the country (18% below the national average), and incomes are projected to increase 3.8% annually over the next five years, the second-fastest rate in the country.”